- Scooter manufacture Vmoto (VMT) is expecting to achieve its largest ever net profit in the 2021 financial year
- The company is expecting a net profit after tax (NPAT) of between $7.5 and $7.8 million for the 2021 financial year, double the amount from FY20’s $3.7 million
- The results are currently unaudited
- Vmoto has also launched its new VMOTO premium brand, aiming to supply high quality products to international markets
- On the market this morning, Vmoto is in the grey and trading at 42 cents per share
Global electric vehicle company Vmoto (VMT) is expecting a record net profit after tax (NPAT) of between $7.5 and $7.8 million for its 2021 financial year.
Subject to audit, the result will be a significant increase from FY20’s NPAT of $3.7 million.
Over the year, the company sold more than 30,000 units, up from 2020’s 23,547 units.
Managing Director Charles Chen is pleased with the NPAT result.
“I am delighted to announce we will deliver a significant increase in NPAT for this financial year when compared to 2020,” he said.
“We remain confident the underlying fundamentals of the business will continue to deliver strong growth throughout key international markets.”
Vmoto has also launched its new VMOTO premium brand, aiming to supply high quality products to international markets, with a key focus on Australia, Europe and the US.
“We are also extremely excited to have launched the new Vmoto premium brand and products having worked alongside a number of top industrial design partners in Europe to bring a wider range of products to the international markets,” Mr Chen said.
“The company’s vision for the new brand is to create a feeling of excitement and joy for riders of Vmoto’s zero emission electric motorcycles and mopeds, whilst to helping to preserve the environment for future generations.”
On the market this morning, Vmoto was in the grey and trading at 42 cents per share at 10:04 am AEDT.